demand

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  • Created by: o_cook
  • Created on: 20-10-19 15:12
complimentary goods
goods that are purchased together as they are consumed together
1 of 6
demand
quantity of product bought at a given price over a given time
2 of 6
demand curve
shows demand at different prices
3 of 6
inferior goods
goods for which demand will fall if income rises
4 of 6
normal goods
goods for which demand will rise if income rises
5 of 6
substitute goods
goods that can be bought as an alternative to others, but perform the same function
6 of 6

Other cards in this set

Card 2

Front

quantity of product bought at a given price over a given time

Back

demand

Card 3

Front

shows demand at different prices

Back

Preview of the back of card 3

Card 4

Front

goods for which demand will fall if income rises

Back

Preview of the back of card 4

Card 5

Front

goods for which demand will rise if income rises

Back

Preview of the back of card 5
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